John Skenesky Sells 2,000 Shares of McGrath RentCorp (NASDAQ:MGRC) Stock

McGrath RentCorp (NASDAQ:MGRC) VP John Skenesky sold 2,000 shares of McGrath RentCorp stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $120.41, for a total value of $240,820.00. Following the completion of the transaction, the vice president owned 10,634 shares of the company’s stock, valued at approximately $1,280,439.94. The trade was a 15.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

McGrath RentCorp Stock Performance

McGrath RentCorp stock opened at $122.28 on Friday. The business’s fifty day moving average is $117.94 and its two-hundred day moving average is $114.08. The firm has a market cap of $2.99 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.22 and a beta of 0.44. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $127.68.

McGrath RentCorp (NASDAQ:MGRC) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The business had revenue of $221.11 million during the quarter, compared to analyst estimates of $236.51 million. On average, equities research analysts predict that McGrath RentCorp will post 6.37 earnings per share for the current year.

McGrath RentCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.98 dividend on an annualized basis and a yield of 1.6%. McGrath RentCorp’s dividend payout ratio is currently 31.88%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of McGrath RentCorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of McGrath RentCorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,528 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 639 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of McGrath RentCorp by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,256 shares of the financial services provider’s stock valued at $8,606,000 after acquiring an additional 3,967 shares during the period. Jane Street Group LLC lifted its stake in shares of McGrath RentCorp by 2,213.6% during the first quarter. Jane Street Group LLC now owns 58,140 shares of the financial services provider’s stock valued at $6,477,000 after acquiring an additional 55,627 shares during the period. Focus Partners Wealth boosted its holdings in McGrath RentCorp by 68.6% in the first quarter. Focus Partners Wealth now owns 2,044 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 832 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in McGrath RentCorp by 24.8% in the first quarter. Intech Investment Management LLC now owns 13,800 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 2,745 shares during the period. 92.05% of the stock is currently owned by institutional investors.

McGrath RentCorp Company Profile

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.